Topics Covered in Today’s Episode:
– Re-opening for Business
– Q1 GDP includes only two weeks’ business in March
– Q-2 missing 1/3 Q-business from April
– Expect 30-40% drop in Q-2 GDP
– Michael Lebowitz – What the Fed Said
– +5% Unemployment for a while
– CB intervention = 29% of GDP
– Fed is not achieving goals, making recovery more difficult
– Jobless numbers preview
– Making Socialism Attractive: making more money on unemployment
– PPP went to only 5% of intended businesses
– Re-opening economy: What People will do differently
– Fed can do anything it wants until real inflation shows – only cure is less money circulating
Market analysis and commentary from RIA Advisors Chief Investment Strategist, Lance Roberts, and Portfolio Manager, Michael Lebowitz, CFA
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